Allworth Financial LP Sells 2,634 Shares of FirstEnergy Corp. (NYSE:FE)

Allworth Financial LP reduced its stake in shares of FirstEnergy Corp. (NYSE:FE) by 68.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,218 shares of the utilities provider’s stock after selling 2,634 shares during the period. Allworth Financial LP’s holdings in FirstEnergy were worth $54,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FE. FinTrust Capital Advisors LLC raised its position in shares of FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 610 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 615 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of FirstEnergy in the 3rd quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of FirstEnergy in the 2nd quarter worth about $32,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of FirstEnergy in the 1st quarter worth about $36,000. 89.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Bank of America lifted their price objective on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Scotiabank boosted their target price on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley boosted their target price on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and an average price target of $46.00.

FirstEnergy Price Performance

FE stock opened at $41.73 on Friday. The company has a market capitalization of $24.05 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 2.26 and a beta of 0.50. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.43 and a current ratio of 0.56. FirstEnergy Corp. has a 52-week low of $34.92 and a 52-week high of $44.97. The business has a 50-day simple moving average of $43.62 and a two-hundred day simple moving average of $41.08.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the firm posted $0.88 EPS. FirstEnergy’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts expect that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a $0.425 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.07%. FirstEnergy’s payout ratio is presently 109.68%.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.